Posted on 2019-10-18 01:00:00

Best Age To Start A Business May be MUCH Older Than You Think According To A Study Of 2.7 Million Founders

Best Age To Start A Business May be MUCH Older Than You Think According To A Study Of 2.7 Million Founders

When is the best age to start a business?

Did you like multiple-choice tests when you were in school? Let's see if you can get this one correct.

What age person is most likely to succeed as a founder of a business?

A) A person in their 20's

B) A person in their 30's

C) A person in their 40's

D) A person in their 50's

E) A person in their 60's

If you are like most people you might choose A, B, or C as your answer. According to a study of 2.7 million startup founders, conventional wisdom might not be the correct choice. A recent study by the Census Bureau and two MIW professors found a connection between older/seasoned leaders and success.

Still not convinced? Check out these stats from Inc.

  • A 50-year-old startup founder is 2.2 times more likely to found a successful startup as a 30-year-old.
  • A 40-year-old startup founder is 2.1 times more likely to found a successful startup as a 25-year-old.
  • A 50-year-old startup founder is 2.8 times more likely to found a successful startup as a 25-year-old founder.

And if you want a really fun statistic:

  • A 60-year-old startup founder is 3 times as likely to found a successful startup as a 30-year-old startup founder--and is 1.7 times as likely to found a startup that winds up in the top 0.1 percent of all companies.